Quantitative Aptitude Ques 141

Question: A sum of money placed at compound interest doubles itself in 5 yr. It will amount to eight times itself at the same rate of interest in

Options:

A) 15 yr

B) 12 yr

C) 10 yr

D) 20 yr

Show Answer

Answer:

Correct Answer: A

Solution:

  • According to the question, $ 2P=P{{( 1+\frac{R}{100} )}^{5}} $
    $ \Rightarrow $ $ {{( 1+\frac{R}{100} )}^{5}}=2 $ On cubing both sides, we get $ {{[ {{( 1+\frac{R}{100} )}^{5}} ]}^{3}}=2^{3} $
    $ \Rightarrow $ $ {{( 1+\frac{R}{100} )}^{15}}=8 $

$ \therefore $ Time = 15 yr

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